Among the rich and famous who have started out their careers as Apprentices
or Graduate Engineers are:
John Caudwell
Caudwell's first job was as an engineering apprentice at the Michelin Tyre Company
in Stoke in 1970. He'd quit school the year before after a term of A-Levels with
a burning desire to get out, on, up and rich. While waiting for his Michelin apprenticeship
to start, he swept pottery floors, worked at a steel factory and as a nightclub
bouncer. Eventually he became a successful car dealer but his path to serious money
came through an early move into the fledgling mobile phone industry. Today he is
the biggest independent player in the European mobile phone industry. Sales at his
Caudwell Group leapt 33 per cent to £1.4 billion and profits rose slightly to £22m
in 2001 but if much of Caudwell's £4m salary was included in the bottom line, the
profit figure rises to £25m. There have been reports that Caudwell is looking to
sell some of the business to Vodafone for a reported £400m. The whole operation
should easily be worth perhaps £800m even in these very difficult times. His Staffordshire
mansion and other property assets should easily take Caudwell to £840m.
Jim McColl
'I just haven't had time to have the curry yet,' says McColl of the £17,000 curry
for 12 that he bid for and won at a recent charity auction. It's easy to see why.
Now one of Scotland's top industrialists, he is building Glasgow-based Clyde Blowers
business after having a 'very good year' in 2002. Perhaps the high point was the
sale in October of CleanCut, an environmentally friendly oil services group specialising
in the disposal of drilling waste. Spun out of one of Clyde Blowers' businesses
in early 2001, CleanCut was acquired by an American oil services group in a complex
deal worth up to £220m. McColl should get £100m from the deal with an initial cash
payment and staged payments along the way depending on performance. McColl is something
of a rarity today - an entrepreneur who actually served an engineering apprenticeship
in one of Glasgow's leading industrial groups. Later in 1992, as an accountant turned
company trouble-shooter, he paid £1m to acquire a 30% stake in a small quoted engineering
business, Clyde Blowers, which cleans boilers etc. In 1998, as the stock market
value fell, McColl took the company private, backed by venture capitalists. His
stake rose to 70% in 2001 when he bought out the venture capital backers. The remaining
elements of Clyde Blowers are now worth perhaps £200m. McColl is busy investing
his newfound wealth in property and has a dozen properties around Europe. With his
return on the CleanCut investment and his stake in what remains, we value McColl
at £305m.
Jack Tordoff
Jack Tordoff started working for his father's garage business as an apprentice mechanic.
After army service, he bought out his late father's two partners in the Bradford-based
operation. That was in the late 1950s, and since then Tordoff has built the renamed
JCT600 (named after his initials and the Mercedes car he bought in 1960 - a Mercedes
600) into one of the top luxury car dealers in Britain. The company, owned entirely
by Tordoff, made around £8m profit in 2002 on nearly £300m sales. It is aiming for
£9m in 2003. It is easily worth £80m and Tordoff's other assets take him to £85m.
Peter Dawson
Now running his DawsonGroup truck rental business out of the public spotlight, Dawson
will be pleased with progress. In 2001, the Milton-Keynes-based operation made £15m
profit on £70m sales. Cautiously we value the company on its £77.3m net asset figure.
Dawson joined what was his father's haulage group in 1956, after serving an engineering
apprenticeship, and turned it into one of the largest truck rental businesses in
Europe. He floated the business on the stock market in 1988, but took it private
twelve years late, increasingly fed up with City indifference to smaller quoted
companies such as Dawsongroup. We add another £5m for past dividends and other assets
to the Dawson family.
Stewart Milne
Stewart Milne has always been a football enthusiast and the game held much more
interest for him than his lessons at the primary school in the Aberdeenshire village
of Tough where he was brought up, and then at Alford Academy nearby. He couldn't
leave school quickly enough. With thoughts of becoming an engineer, he managed to
secure a job with an Aberdeen company. He realised it wasn't for him and became
an apprentice electrician with another city firm. After serving his time he and
a friend set up in business prepared to do anything from repairing kettles to rewiring,
but gradually they came to concentrate on bathroom conversions which were big business
in the granite city, not least because of the oil boom. From being a one-man builder,
Milne has built the Stewart Milne Group into a major construction group in the North
of Scotland. The company had an excellent year to June 2002 producing a record £8.5m
profits on sales of £150m. We value the company at around £75m on these figures
reflecting the better performance. Milne and his family have 95% worth £71m. He
is also a director of Aberdeen Football Club, the struggling Scottish team. In all
the Milne family is worth perhaps £75m with past salaries and other assets.
Rodger Dudding
The son of a naval officer, Rodger Dudding took a craft apprenticeship in naval
engineering over the five years from 1954 to 1959 at Chatham 's naval dockyard.
He regards it as invaluable experience, 'keeping one on the straight and narrow
and instilling discipline,' he contends. After his naval career was cut short by
injury, Dudding went into business before launching Lonsto (International) which
makes and installs ticket and queue management systems used by banks and supermarkets.
That business is still thriving and at least six million people a day pass through
a Lonsto queuing system. But Dudding is also the king of lugs in Britain - or lock
up garages. He has over 10,000 of them and is aiming for 20,000. The Lugs came about
by accident in 1975 when a friend suggested Dudding should buy a block of lock-ups
in south London. He realised that the garage business was fragmented and not regarded
as a serious business. Single-handedly he changed all that. Today, he is also busy
with small-scale developments of garages sites, turning them into badly needed housing.
In all his businesses have net assets of over £70m and we value Dudding on that
figure.
John Guest
After starting work as an apprentice toolmaker at 14, Guest went on to found his
own business in 1961. John Guest International is one of the world's biggest makers
of plastic pipefittings. Based at West Drayton, near Heathrow Airport the family-owned
operation is chaired by Guest while his three sons are also directors. The business
is a world leader in plastic fittings for the plumbing and car industries. In 2001,
it made £5m profit on £58.7m sales. Around 60% of the production is exported and
the company spends about 10% of its sales figure on capital investment. Guest and
his family own all the shares in the £40m business. We add another £3m for salaries
to the Guest family.
Ken Shaw
Ken Shaw left school at 16 having done badly in his O-levels. He decided on a career
in engineering and went on to take an apprenticeship with GKN. For eleven years
he worked in a variety of jobs studying at night school until he was 28, taking
a job as works manager in a water gauge factory. He rose to be MD and later took
over a taps and shower company. In 1985 he led a management buyout of the combined
business, A&J Gummers, and in February 1999 the business was sold for £27.5m, netting
Shaw over £20m for his stake.
Hilary Cropper
Working at the old GEC, Hilary Cropper took an engineering apprenticeship, and later
joined computer services group, FI, in 1985. She became chief executive in 1987
and led the flotation of the business and led the flotation of the Hertfordshire-based
operation in 1996. Now renamed Xansa, it has been hit by the fall in high tech shares.
Cropper, now non-executive chair of the group, retains a £3m stake, while share
sales since the float add around £14m.
Billy Connolly
The Big Yin started work as a 16-year-old apprentice at the Govan shipyard in Glasgow.
He started his showbiz career as a folk singer but at the age of 33 was propelled
to national stardom on Michael Parkinson's show. Today, with his Highland estate
(a £500,000 buy in 1998) his Home Counties mansion, and the proceeds from tours,
videos and TV appearances, Connolly is worth £15m at least. We can see around £1.5m
of net assets in the 2001 accounts of his Sleepy Dumpling (Music) business.
Charan Gill
Charan Gill arrived in Glasgow from the Punjab at the age of nine not speaking a
word of English. At 15 he left school to take up an apprenticeship with shipbuilder,
Yarrow, and qualified as a turner fitter. He worked there for nine years and made
extra money at night by waiting in a friend's restaurant. With his cousin, he eventually
took over the restaurant and today he runs Harlequin Leisure, Europe's largest independent
chain of Indian restaurants with 17 outlets. IN 2001, Harlequin made around £360,000
profit on £2.9m turnover, which has since risen to around £10m. It is worth at least
£10m. Other assets such as Harlequin Properties and Harlequin Homes take Gill to
perhaps £13m.
Leonid Brezhnev
Leader of the former Soviet Union, metallurgical engineer.
Thomas Edison
Edison patented 1,093 inventions in his lifetime, earning him the nickname "The
Wizard of Menlo Park." The most famous of his inventions was an incandescent light
bulb. Besides the light bulb, Edison developed the phonograph and the kinetoscope,
a small box for viewing moving films. He also improved upon the original design
of the stock ticker, the telegraph, and Alexander Graham Bell's telephone. Edison
was quoted as saying, "Genius is one percent inspiration and 99 percent perspiration."
Alfred Hitchcock
British-born American director and producer of many brilliantly contrived films,
most of them psychological thrillers including "Psycho", "The Birds", "Rear Window",
and "North by Northwest." He was born in London and trained there as an engineer
at Saint Ignatius College.
Henry Bessemer
English inventor and engineer who invented the first process for mass-producing
steel inexpensively - essential to the development of skyscrapers.
Rowan Atkinson
A British comedian, best known for his starring roles in the television series "Blackadder"
and "Mr. Bean" and several films including Four Weddings And A Funeral. Atkinson
attended first Manchester then Oxford University on an electrical engineering degree.
Philip Condit
CEO, The Boeing Company, mechanical/aeronautical engineering.
Henry Ford
Held many patents on automotive mechanisms but is best remembered for helping devise
the factory assembly approach to production that revolutionized the auto industry
by greatly reducing the time required to assemble a car. Born in Wayne County, Mich.,
Ford showed an early interest in mechanics, constructing his first steam engine
at the age of 15.
Steve Wozniak
Cofounded Apple Computer, Inc. in 1976 with the Apple I computer. Wozniak's Apple
II personal computer - introduced in 1977 and featuring a central processing unit
(CPU), keyboard, floppy disk drive, and a $1,300 price tag - helped launch the PC
industry. In 1980, just a little more than four years after being founded, Apple
went public. Wozniak left Apple in 1981 and went back to Berkeley and finished his
degree in electrical engineering/computer science.
George Stephenson
Was famous for Building the First Public Railway Line to Use Steam Locomotives.
Civil engineer and mechanical engineer
Nicolas Parsons
After distinguishing himself at St Paul's School both in Latin, Greek and Rugby.
He found himself beginning an apprenticeship for a firm that made pumps and turbines
where his first pay packet for a 48 hour week was 49p!